Selkirk Corporation began operations in 2012. Its summarized financial statements are presented below.

Fill in the shaded areas to complete the financial statements. Begin your work with 2012 and move forward from there.

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2014 2013 2012 Revenues $478,000 $375,000 Expenses 327,000 290,000 Net income 122,500 78,000 Retained earnings at the beginning of the year 0 Dividends declared during the year 10,000 Retained earnings at the end of the year 187,500 165,500 Capital stock at the end of the year 180,000 150,000 Liabilities at the end of the year Assets at the end of the year 300,000 225,000 595,500 393,000